S&P Global (NYSE:SPGI) Given New $589.00 Price Target at BMO Capital Markets

S&P Global (NYSE:SPGI) had its target price upped by analysts at BMO Capital Markets from $537.00 to $589.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 11.30% from the company’s previous close.

SPGI has been the subject of several other research reports. Bank of America upped their target price on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus upped their target price on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of S&P Global from $550.00 to $565.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. UBS Group increased their price objective on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global has an average rating of “Moderate Buy” and a consensus price target of $565.17.

S&P Global Trading Up 0.1 %

NYSE:SPGI opened at $529.18 on Tuesday. The firm has a market capitalization of $165.58 billion, a price-to-earnings ratio of 59.33, a price-to-earnings-growth ratio of 2.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $510.85 and a 200-day moving average price of $466.86. S&P Global has a one year low of $340.49 and a one year high of $533.29.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.37. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. S&P Global’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.12 EPS. Sell-side analysts forecast that S&P Global will post 14.61 EPS for the current year.

Insider Activity

In other news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the sale, the chief executive officer now directly owns 154,912 shares of the company’s stock, valued at $74,915,443.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Edouard Tavernier sold 500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the sale, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of S&P Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swedbank AB purchased a new position in shares of S&P Global during the first quarter worth approximately $351,774,000. Assenagon Asset Management S.A. increased its position in shares of S&P Global by 352.2% during the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock worth $206,669,000 after acquiring an additional 360,909 shares during the period. Third Point LLC purchased a new position in shares of S&P Global during the first quarter worth approximately $142,526,000. Ameriprise Financial Inc. increased its position in shares of S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after acquiring an additional 298,645 shares during the period. Finally, Capital International Investors increased its position in shares of S&P Global by 5.3% during the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock worth $2,464,951,000 after acquiring an additional 291,712 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.